IGI Logo

Stocks in News

* COHANCE LIFESCIENCES: Jusmiral Holdings will sell 1.9 crore shares, equal to a 5.1% stake worth Rs 1,756.2 crore, at a floor price of Rs 900 per share, a 6.9% discount to the market price, with IIFL Capital Services as the sole broker.

* MARICO: Income Tax officials visited the company’s offices and manufacturing units in India, with proceedings underway. The FMCG firm said it is fully cooperating and clarified that the development will not materially impact business operations.

* BANDHAN BANK: The bank sold 15.39 crore Yes Bank shares at Rs 21.5 each to SMBC, cutting its stake from 0.7% to 0.21%.

* BAJAJ FINSERV: The company targets 2029 total income growth of 20–22% to Rs 3 lakh crore, profit growth of 18–22% to Rs 20,000 crore, and a 15–17% increase in its customer base to 20 crore, highlighting its strong focus on financial and operational expansion.

* LODHA DEVELOPER: The company has referred the resignation of director Rajendra Lodha, who stepped down on August 17, to authorities for investigation.

* FEDRAL BANK: The bank sold 16.62 crore Yes Bank shares at Rs 21.5 each to Sumitomo Mitsui Banking Corp.

* AAVAS FINANCIERS: The company approved raising up to Rs 8,500 crore through NCDs on a private placement basis.

* POONAWALLA FINCORP: The board approved allotment of 3.3 crore shares worth about Rs 1,500 crore to promoter Rising Sun.

Economic News

* India, UAE to review trade pact progress during Piyush Goyal's visit: Commerce and industry minister Piyush Goyal will visit the United Arab Emirates from September 18–19 to review progress on bilateral trade and investment initiatives, the government said on Wednesday. Goyal will co-chair the 13th India-UAE High Level Task Force on Investments with Sheikh Hamed bin Zayed Al Nahyan, managing director of the Abu Dhabi Investment Authority. The meeting will assess the Comprehensive Economic Partnership Agreement (CEPA), the Double Taxation Treaty, and central bank-related issues.

Global News

* Global diplomacy on edge as Trump, Gaza, Ukraine, and Iran dominate U.N. General Assembly: World leaders will gather in New York next week for the U.N. General Assembly, dominated by Donald Trump’s return to the podium, wars in Gaza and Ukraine, growing recognition of Palestinian statehood, and nuclear tensions with Iran. U.N. Secretary-General Antonio Guterres warned of “uncharted waters” with deepening divides, escalating conflicts, and strained global cooperation. Trump, now in his second term, is expected to highlight his achievements while continuing his skepticism of multilateralism and U.N. funding. The assembly will also spotlight the worsening Gaza war, where famine looms, and rising Western support for a two-state solution, though Mahmoud Abbas has been denied a U.S. visa and will speak via video. Netanyahu, facing ICC charges, will address the assembly after launching a ground assault on Gaza City. Ukraine’s war remains high on the agenda with speeches from Zelenskiy and Lavrov, while Iran will push to avert renewed sanctions. With over 150 bilateral meetings planned, Guterres dubbed the session the “World Cup of diplomacy

Government Security Market:

* The Inter-bank call money rate traded in the range of 4.75%- 5.65% on Wednesday ended at 5.25% .

* The 10 year benchmark (6.33% GS 2035) closed at 6.4726% on Wednesday Vs 6.4925% on Monday .

Global Debt Market:

U.S. Treasury yields held steady on Wednesday as investors awaited the Federal Reserve’s interest rate decision and monetary policy outlook. The 10-year Treasury yield was down less than one basis point at 4.02%, and the 2-year Treasury yield also dipped less than one basis point to 3.507%, Meanwhile, the 30-year Treasury was little changed at 4.639%. Traders are pricing in a 100% chance that the Fed will lower its interest rates, according to the CME FedWatch Tool. Such a step could give a boost to the health of the U.S. economy as the labor market continues to slow and inflation stays above the central bank’s 2% target. The Fed will also share further insight on the outlook for rates for the next 12 months in the central bank’s quarterly Summary of Economic Projections, accompanied by a dot-plot grid which will show where rates may be in the next year. Paul McCulley, former managing director at Pimco said on CNBC’s “The Exchange” on Tuesday that a quarter-point rate cut is the widely expected outcome of the Federal Open Market Committee’s meeting. “Quite frankly, I don’t know how I would explain [a half-point cut] in the current context without saying the labor market really is worrying me intensely, and I don’t think that’s the message that Chair Powell wants to communicate — at least not now,” McCulley said. Investors will also keep an eye out for other economic data, including preliminary building permits and housing starts for August due out on Wednesday. The weekly initial jobless claims report will be released on Thursday.

10 Year Benchmark Technical View :

The 10 year Benchmark (6.33% GS 2035) yield likely to move in the range of 6.47% to 6.49% level on Thursday.

SEBI Registration number is INH000000081.

Please refer disclaimer at https://geplcapital.com/term-disclaimer